v3.20.4
SEGMENT AND GEOGRAPHICAL REPORTING (Tables)
|
12 Months Ended |
|
Segment Reporting [Abstract] |
|
Schedule of Financial Information Related to Company's Segments |
The following table sets out financial information related to the Company’s segments (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | Years Ended December 31, | Service Centers | | Innovative Pumping Solutions | | Supply Chain Services | | Total | 2020 | | | | | | | | Product sales (recognized at a point in time) | $ | 595,314 | | | $ | — | | | $ | 138,653 | | | $ | 733,967 | | Inventory management services (recognized over contract life) | — | | | — | | | 16,005 | | | 16,005 | | Staffing services (day-rate basis) | 67,303 | | | — | | | — | | | 67,303 | | Customized pump production (recognized over time) | — | | | $ | 187,991 | | | — | | | 187,991 | | Total Revenue | $ | 662,617 | | | $ | 187,991 | | | $ | 154,658 | | | $ | 1,005,266 | | Operating income for reportable segments, excluding adjustments | 70,385 | | | 18,715 | | | 13,218 | | | 102,318 | | Identifiable assets at year end | 550,505 | | | 130,505 | | | 56,721 | | | 737,731 | | Capital expenditures | 1,254 | | | 4,457 | | | — | | | 5,711 | | Proceeds from sale of fixed assets | — | | | — | | | — | | | — | | Depreciation | 3,299 | | | 4,441 | | | 387 | | | 8,127 | | Amortization | 6,989 | | | 5,298 | | | — | | | 12,287 | | Interest expense | $ | 11,506 | | | $ | 7,360 | | | $ | 1,705 | | | $ | 20,571 | |
| | | | | | | | | | | | | | | | | | | | | | | | Years Ended December 31, | Service Centers | | Innovative Pumping Solutions | | Supply Chain Services | | Total | 2019 | | | | | | | | Product sales (recognized at a point in time) | $ | 703,742 | | | $ | — | | | $ | 184,767 | | | $ | 888,509 | | Inventory management services (recognized over contract life) | — | | | — | | | 16,511 | | | 16,511 | | Staffing services (day-rate basis) | 58,514 | | | — | | | — | | | 58,514 | | Customized pump production (recognized over time) | — | | | 303,655 | | | — | | | 303,655 | | Total Revenue | $ | 762,256 | | | $ | 303,655 | | | $ | 201,278 | | | $ | 1,267,189 | | Operating income for reportable segments, excluding adjustments | 86,778 | | | 28,895 | | | 14,445 | | | 130,118 | | Identifiable assets at year end | 462,663 | | | 212,015 | | | 56,714 | | | 731,392 | | Capital expenditures | 2,333 | | | 9,347 | | | 922 | | | 12,602 | | Proceeds from sale of fixed assets | 35 | | | — | | | — | | | 35 | | Depreciation | 3,517 | | | 4,602 | | | 285 | | | 8,404 | | Amortization | 8,230 | | | 5,855 | | | 989 | | | 15,074 | | Interest expense | $ | 10,786 | | | $ | 6,747 | | | $ | 1,965 | | | $ | 19,498 | |
| | | | | | | | | | | | | | | | | | | | | | | | Years Ended December 31, | Service Centers | | Innovative Pumping Solutions | | Supply Chain Services | | Total | 2018 | | | | | | | | Product sales (recognized at a point in time) | $ | 685,309 | | | $ | — | | | $ | 160,770 | | | $ | 846,079 | | Inventory management services (recognized over contract life) | — | | | — | | | 13,686 | | | 13,686 | | Staffing services (day-rate basis) | 64,735 | | | — | | | — | | | 64,735 | | Customized pump production (recognized over time) | — | | | 291,697 | | | — | | | 291,697 | | Total Revenue | $ | 750,044 | | | $ | 291,697 | | | $ | 174,456 | | | $ | 1,216,197 | | Operating income for reportable segments, excluding adjustments | 80,718 | | | 33,943 | | | 16,204 | | | 130,865 | | Identifiable assets at year end | 402,944 | | | 188,765 | | | 53,517 | | | 645,226 | | Capital expenditures | 1,655 | | | 6,800 | | | 296 | | | 8,751 | | Depreciation | 3,974 | | | 4,064 | | | 49 | | | 8,087 | | Amortization | 9,272 | | | 6,237 | | | 1,077 | | | 16,586 | | Interest expense | 11,178 | | | 7,351 | | | 2,408 | | | 20,937 | |
|
Schedule of Reconciliation of Operating Income for Reportable Segments to Consolidated Income Before Taxes |
| | | | | | | | | | | | | | | | | | | Years Ended December 31, | | 2020 | | 2019 | | 2018 | Operating income for reportable segments, excluding adjustments | $ | 102,318 | | | $ | 130,118 | | | $ | 130,865 | | Adjustments for: | | | | | | Amortization of intangibles | 12,287 | | | 15,074 | | | 16,586 | | Impairment and other charges | 59,883 | | | — | | | — | | Corporate and other expense, net | 57,018 | | | 48,922 | | | 45,828 | | Total operating income | $ | (26,870) | | | $ | 66,122 | | | $ | 68,451 | | Interest expense | 20,571 | | | 19,498 | | | 20,937 | | Other expenses (income), net | 74 | | | (45) | | | (1,192) | | Income before income taxes | $ | (47,515) | | | $ | 46,669 | | | $ | 48,706 | |
|
Schedule of Revenues by Geographical Location |
The Company’s revenues and property and equipment by geographical location are as follows (in millions): | | | | | | | | | | | | | | | | | | | Years Ended December 31, | | 2020 | | 2019 | | 2018 | Revenues | | | | | | United States | $ | 931 | | | $ | 1,165 | | | $ | 1,110 | | Canada | 74 | | | 102 | | | 106 | | Other(1) | — | | | — | | | — | | Total | $ | 1,005 | | | $ | 1,267 | | | $ | 1,216 | |
(1) Other includes Mexico and Dubai.
|
Schedule of Property, Plant and Equipment by Geographical Location |
| | | | | | | | | | | | | As of December 31, | | 2020 | | 2019 | Property and Equipment, net | | | | United States | $ | 52 | | | $ | 56 | | Canada | 5 | | | 8 | | Other(1) | — | | | — | | Total | $ | 57 | | | $ | 64 | |
(1) Other includes Dubai.
|
X |
- DefinitionTabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets.
+ References
+ Details
Name: |
us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.
+ References
+ Details
Name: |
us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues.
+ References
+ Details
Name: |
us-gaap_ReconciliationOfRevenueFromSegmentsToConsolidatedTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.
+ References
+ Details
Name: |
us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_SegmentReportingAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
|